Vietnam Industry April 2017

Vietnam: Industrial production picks up in April

April 29, 2017

In April, industrial production rose 7.4% over the same month last year, which was up from the 5.5% rise in March. Looking at the sub-components of industrial production, manufacturing output rose a solid 11.1% in April, while mining and quarrying output still contracted, though at a softer pace than in March.

In month-on-month terms, industrial production slipped 0.8% in April (March: +12.5% mom). Meanwhile, the annual average growth of industrial production was stable at 7.4% in April.

FocusEconomics Consensus Forecast participants estimate that industrial output will grow 8.0% in 2017, which is unchanged from last month’s forecast. For 2018, panelists expect industrial production to expand 8.3%.

The industrial sector performed strongly in December but grew at a more moderated pace compared to the last three months, largely reflecting a broad-based slowdown but also partly due to a reduced base-effect.